Levo Credit Union selects Scienaptic’s AI-powered credit decisioning platform to enhance loan approvals and member experience
NEW YORK, NY (November 1, 2021) — Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Levo Credit Union has chosen its AI-powered platform, enabling the credit union to make faster loan approvals, reaching more members, increasing loan approval rates and enhancing member experience.
Originally chartered in 1934, Levo serves over 30,000 members throughout Minnehaha, Lincoln, McCook and Turner counties of South Dakota, providing a full range of consumer and business financial services across its six Sioux Falls locations. Implementing Scienaptic’s AI-powered credit underwriting platform will allow the community-focused, members-first institution to boost credit access for both current and potential borrowers.
“At Levo, our mission is to help better our members’ lives by putting their financial interests first and providing the right products and services when they need them,” said Steven Stofferahn, VP of Lending at Levo Credit Union. “Scienaptic’s AI-powered credit decisioning platform is a perfect fit for this mission. The cutting-edge AI will help us enhance credit access for members and improve their financial well-being through smarter, faster credit decisions.”
“We are excited to be partnering with the team at Levo, helping to enhance its credit decisioning,” said Pankaj Jain, President, Scienaptic. “By leveraging Scienaptic’s AI, Levo will be able to say ‘yes’ to more borrowers more often and with more confidence, further strengthening relationships and delivering an exceptional member experience.”
About Scienaptic AI
Scienaptic AI’s mission is to increase credit availability across the globe by transforming the technology used in credit decisioning. Credit unions, auto lenders, banks, and fintechs, use Scienaptic's AI native credit decisioning platform to continually improve the quality and speed of their underwriting decisions.
The platform enables FIs to reach more borrowers, including underbanked and underserved individuals, and say “yes” more often without increasing risk. It democratizes automated AI-powered lending while addressing all regulatory requirements, including Fair Lending and explainable adverse actions.
Scienaptic-enabled lenders have processed more than 300 million transactions, benefitting millions of borrowers.
For more information, visit http://www.scienaptic.ai
